Integrated Ventures Reports A Record Q1/2022 Revenues Of $2,662,161 And Positive Earnings Of 0.01 Per Share.

Rhea-AI Summary

Integrated Ventures (OTCQB: INTV) has reported record revenues of $2,662,161 for Q1/2022, a significant increase from $1,851,390 in 2021. The revenue breakdown includes $717,073 from digital currency sales, $1,040,071 from mining, and $875,017 from equipment sales. The company achieved a gross profit of $842,145, recovering from a loss of $542,239 in the previous year. Ending cash for Q1/2022 reached $687,338, with total digital currency holdings valued at $3,249,454. Shareholder equity surged to $14,719,763 from $546,822.

Positive

• Record total revenues of $2,662,161 for Q1/2022, up from $1,851,390 in 2021.
• Best ever gross profit reported at $842,145, compared to a loss of $542,239.
• Ending cash balance of $687,338, significantly increased from $6,675.
• Total digital currencies holdings reached $3,249,454, up from $0.
• Shareholder's equity rose dramatically to $14,719,763 from $546,822.
• Projected mining revenues for Q2/2022 to exceed $2.7 million.

Negative

• None.

PHILADELPHIA, Nov. 12, 2021 /PRNewswire/ -- Integrated Ventures Inc. (OTCQB: INTV), ("Company") is pleased to confirm the filing of its quarterly report on Form 10Q for the Q1/2022, ended September 31, 2021, after the today's market close.

The key financial highlights listed below are provided to compare financial results for Q1/2022 vs a full calendar year of 2021:

• INTV had reported Record Total Revenues: For the Q1/2022, the Company generated its highest ever revenues of $2,662,161 vs $1,851,390 for full 2021 year and vs $454,170 for a full 2020 year.
• Revenue Mix: The revenues for Q1/2022 consisted of (1) other income of $717,073 due to realized gains on sales of digital currencies, (2) $1,040,071 of mining revenues and (3) $875,017 of mining equipment sales.
• The Company had delivered Best Ever Gross Profit: The Company reported, a total gross profit from mining operations and sales of mining equipment, in the amount of $842,145 vs a loss of $542,239.
• Company's ending cash balance for Q1/2022 was $687,338 vs $6,675.
• INTV's Total Digital Currencies Holdings: As of September 31, 2021, the Company's had $3,249,454 of digital currencies on its Balance Sheet vs $0.00.
• The Company Reported The Highest Shareholders' Equity To Date: As of September 31, 2021, the Company reported total Shareholder's Equity of $14,719,763 vs $546,822.

Steve Rubakh, CEO of Integrated Ventures, adds the following commentary:

> INTV has delivered a record breaking results in terms of core revenues, of $83,227 for Q1/2021 vs $1,915,088 for Q1/2022.

> Based on current cryptocurrency market pricing, INTV's mining revenues for Q2/2022 projected to exceed $2.7 million.

> Quarter to quarter, INTV's mining revenues are projected to grow on 25%-30% pace, fueled by (1) access to additional power capacity and (2) in-coming inventory of Bitmain miners."

About: Integrated Ventures,Inc.is a Technology Portfolio Holdings Company with focus on Cryptocurrency Mining.

For more details, please visit the Company's website: www.integratedventuresinc.com.

Safe Harbor Statement: The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, and various other factors beyond the company's control.

CONTACT: +1-215-613-1111 sr@integratedventures.io

 

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SOURCE Integrated Ventures Inc.

FAQ

What were Integrated Ventures' revenues for Q1/2022?

Integrated Ventures reported record revenues of $2,662,161 for Q1/2022.

How does Q1/2022 revenue compare to previous years for INTV?

Q1/2022 revenue of $2,662,161 is significantly higher than $1,851,390 for the entire year of 2021.

What is the projected revenue for INTV in Q2/2022?

The projected mining revenues for Q2/2022 are expected to exceed $2.7 million.

What is the gross profit reported by INTV for Q1/2022?

Integrated Ventures reported a gross profit of $842,145 for Q1/2022.

What is the current cash balance for Integrated Ventures?

As of Q1/2022, Integrated Ventures has a cash balance of $687,338.